Eurocoin Indicator Underlines Eurozone Downturn

Eurocoin Indicator Underlines Eurozone Downturn


An indicator of economic climate in the euro area declined for the second straight month in July, confirming the ongoing weakness in activity in the region, data from a survey by Bank of Italy and the Center for Economic Policy Research showed Friday.
The eurocoin indicator, which is designed to measure the current economic situation in the Eurozone in GDP terms, dropped to -0.24 percent in July from -0.17 percent in June. In May, the reading was -0.03 percent.
The latest decline was the second in a row, and reflected negative assessments of economic conditions by both households and businesses, data showed.



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